Tag: best execution

best execution

Have Buy Side Firms Been Asleep at the Wheel?

In recent years the sell side has justifiably been criticised for its behaviour in the FX market. But should regulators and market participants be taking a closer look at how the buy side operates in this market? Galen Stops reports.

The FX industry has been rocked by a number of scandals in recent years and in many cases the implications of these scandals is only now coming home to roost.

Two of the largest custodian banks in the world, BNY Mellon and State Street, have agreed $714 million and $530 million settlements, respectively, related to allegations they systematically set disadvantageous rates for their customers in contrast to their claims to be achieving best execution for them.

FX TCA: Easy to Do Wrong, Hard to Do Right

Although the clamour for transaction cost analysis (TCA) tools is growing amongst buy side firms, they face numerous challenges if they are going to use them effectively, said panelists at Profit & Loss’ Forex Network New York conference.  “Best execution has never been more in focus, and there are two main reasons for this,” said […]